The Nord Stream 2 pipeline, which is completed but not yet certified for operation, is a key component of German energy plans, a potential source of Russian revenue and, U.S. officials said, a topic of discussions between Washington and Berlin over how to stop Russia's military pressure on Ukraine.
Aker BP to Buy Lundin Energy's Oil and Gas Business for $13.8 Bln
Aker BP ASA said Tuesday that it will buy the oil-and-gas business of Lundin Energy to create the largest listed oil-and-gas company focused purely on the Norwegian Continental Shelf.
The Norwegian oil-and-gas producer said that the purchase of the Swedish business's assets, valued at around 125 billion Norwegian krone ($13.8 billion), brings strategic and value-accretive benefits, increasing scale and high-quality high returns. The transaction is subject to shareholder approval, and completion is expected in the second quarter of 2022.
NatWest Pleads Guilty to Manipulating Treasury Markets
WASHINGTON-NatWest Markets PLC pleaded guilty to wire and securities fraud, admitting that its traders in London, Singapore and Connecticut engaged in several schemes between 2008 and 2018 to manipulate U.S. Treasury markets.
The investment bank's general counsel entered the plea in a hearing held remotely Tuesday before a federal judge in Connecticut. Under a plea deal filed in court, the bank agreed to $35 million in fines and other penalties, a three-year term of probation during which NatWest is required to cooperate with prosecutors and the appointment of a corporate monitor to assess the bank's compliance practices.
Turkey Rolls Out Economic Rescue Plan, Reversing Lira's Spiral
ISTANBUL-Turkey's currency mounted a dramatic, partial reversal from a monthslong collapse on Tuesday after President Recep Tayyip Erdogan announced a rescue plan to encourage Turks to put their money back into the lira.
In a televised speech late Monday, Mr. Erdogan said the government would guarantee returns on lira deposits at a rate similar to those on foreign currency, making up for any further depreciation in the lira. The Finance Ministry released details of the policy Tuesday.
Airlines Prepare for Busy Travel Week Amid Omicron Surge
The rapid spread of the Omicron variant is looming over holiday travel, but airports are getting busier as travelers try to stick to plans to see friends and family over the holidays.
While travel hasn't fully recovered to pre-pandemic levels, some airlines said they are expecting flights to be even fuller than they were over Thanksgiving, when daily passenger volumes hit their highest levels since the start of the pandemic.
CES 2022: Tech Show Faces Dilemma as Covid Cases Rise and Companies Stay Home
Organizers of CES 2022 are pressing ahead with plans to host tens of thousands of people in Las Vegas next month, setting up the technology conference as a test for mass business gatherings at a time when surging Covid-19 cases are prompting other companies and groups to change plans.
Several participants including Amazon.com Inc., Facebook parent Meta Platforms Inc. and Twitter Inc., and at least one keynote speaker, T-Mobile's chief executive, have withdrawn from the event.
Sony Group India Unit, Zee Entertainment Agree to Merge
Sony Group Corp.'s Indian unit and Zee Entertainment Enterprises Ltd. said Wednesday that they agreed to merge in a bid to meet growing consumer demand for entertainment content and drive shareholder value.
Sony Group will indirectly hold a 51% stake in the combined company while founders of Zee will have a 4% interest and other Zee shareholders will own a 45% interest, the companies said. The combined company will be publicly listed in India, they said.
SoftBank Finalizing $4 Billion Loan From Apollo-Led Group
SoftBank Group Corp. is finalizing a $4 billion loan from Apollo Global Management Inc. backed by SoftBank's stable of technology-startup stakes, as the Japanese conglomerate seeks to weather turbulence in its portfolio.
The loan would be secured by SoftBank's second Vision Fund, people familiar with the matter said. That roughly $40 billion pot includes stakes in 150 companies such as Indian e-commerce giant Flipkart; digital-banking startup Revolut; and Cameo, a site where celebrities sell personalized messages. SoftBank can use the money for a range of purposes, one of the people said.
Write to sarka.halas@wsj.com
Expected Major Events for Wednesday
00:01/UK: Dec REC JobsOutlook survey
07:00/UK: 3Q Balance of Payments
07:00/UK: 3Q UK quarterly national accounts
07:45/FRA: Nov PPI
08:00/SPN: Nov PPI
08:30/SWE: Nov PPI
08:30/SWE: Nov Retail sales
09:00/ITA: Nov Foreign Trade non-EU
09:00/ICE: Nov Labour Force Survey
09:30/UK: 3Q Business investment revised results
11:00/IRL: Nov WPI
13:00/POL: Nov Broad money M3
13:30/CZE: Czech interest rate decision
15:00/DEN: Nov Central Government Finance & Debt
17:59/POR: Oct Balance of Payments
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(END) Dow Jones Newswires
12-22-21 0034ET
